Fiscal Policy Director, Greg Jericho, notes in his Guardian Australia column that there are big lessons for Australia.
The Stage 3 tax cuts are a case of terrible economics masquerading as a growth strategy. Trickledown economics does not work, never has, and this week we have discovered that even the markets agree.
Rather than destroy your tax base, governments need to care about sustaining a broad revenue base that works to reduce inequality and fund services and investments that drives productivity and helps those who most need it.
Trickledown economics has never worked and was always just fraudulent spin designed to hide its real aim of giving rich and powerful people tax cuts at the expense of others.
This week has shown that no one even believes the lie anymore.
The post The UK shows how bad the Stage 3 tax cuts will be appeared first on The Australia Institute's Centre for Future Work.